Earlier today, Apple released iOS 4.2, or more precisely 4.2.1. Every time we have a new software update, the questions come back. When can we get a jailbreak? For what models? Tethered? Untethered? Can I unlock? You know the drill.

The Dev Team wrote a blog post a few minutes ago updating us about the status of the jailbreak and unlock for iOS 4.2.1. Here are the most important points:

If you care about your unlock, you should not update to 4.2.1, no matter what (wait for PwnageTool to be updated)

iPhone 3G, older iPhone 3GS, and non-MC iPod touch 2G will soon be able to be jailbroken. Thanks to a combination of pwnage2 exploit, the arm7_go exploit, 24kpwn, and LimeRa1n, you will get an untethered jailbreak.

For users of newer devices (ie. iPhone 4), there is a way to jailbreak but it is a tethered jailbreak (which means you have to plug your iPhone in your computer to kick start if every time you reboot it).